President Ferdinand "Bongbong" Marcos Jr. (left), House Speaker Martin Romualdez (Speaker’s office)

House Speaker Martin Romualdez strongly backed on Thursday, Oct 10 President Marcos' call for a swift conclusion of negotiations on the ASEAN-China Code of Conduct (COC) to ensure peace and stability in the South China Sea. 

“The swift finalization of the [COC] is essential in the pursuit of a peaceful resolution to the disputes in the South China Sea, managing tensions, and preventing future conflicts,” said Romualdez, leader of the 300-plus strong Philippine House of Representatives. 

“The House of Representatives stands solidly behind President Marcos in his steadfast efforts to secure a common ground for all stakeholders towards greater cooperation and security in the South China Sea,” he added. 

Located within the South China Sea is the West Philippine Sea (WPS), where Manila and China have been embroiled in a longstanding territorial dispute. 

Romualdez, arguably Marcos' top lieutenant, is accompanying the President in Laos for the ongoing 44th and 45th Association of Southeast Asian Nation (ASEAN) Summits. 

The Speaker noted that President Marcos has consistently said that Philippines would continue to explore all diplomatic avenues in the pursuit of peace and stability in the region. This, despite China’s aggressive acts in the WPS. 

Romualdez said that the Chief Executive's engagements in the ASEAN Summit, where he championed the country’s interests, have a direct impact on the everyday lives of Filipinos. 

“This summit isn’t just about foreign policy. The President is working hard to safeguard our natural resources, which directly affects our fishermen and the communities that depend on them for their livelihood,” explained the House leader. 

Ideal investment destination 

Speaking of Filipinos' livelihood, Romualdez expressed great optimism for increased foreign investments in the Philippines following President Marcos' compelling presentation of the country as an ideal investment destination. 

“The President’s presentation at the ASEAN Business and Investment Summit sends a clear signal that the Philippines is open and ready for business. His emphasis on the country’s competitive advantages has positioned us at the forefront of investment opportunities in the region,” said the Speaker. 

“Foreign investors are now looking at the Philippines with fresh eyes, especially given our efforts to improve infrastructure, digitalization, and ease of doing business,” he said. 

“These investments will bring in capital that will drive new projects, create thousands of jobs for Filipinos, and spur economic growth across multiple industries. From manufacturing to IT services and tourism, we foresee major boosts in both local enterprises and the labor market,” Romualdez added. 

Romualdez, Leyte's 1st district representative, reaffirmed the commitment of the House of Representatives to support the Marcos administration's efforts to further enhance the country’s investment climate. 

“We remain committed to working with President Marcos’s administration’s initiatives to provide a more conducive environment for foreign investments as part of the broader goal of achieving inclusive and sustainable economic development for the Filipino people,” he said. 

Digital transformation 

Romualdez also noted Marcos' advocacy for digital transformation, which the latter highlighted during the regional meet. 

"The President’s push for stronger digital connectivity in ASEAN translates to real, tangible benefits for the Filipino people,” the Speaker said. 

“By fostering innovation and increasing access to digital markets, we are unlocking opportunities for local businesses, especially MSMEs (micro, small, and medium enterprises), and creating new jobs for our workforce,” said the Lakas-Christian Muslim Democrats (Lakas-CMD) president. 

He further noted that boosting digital connectivity in the region would open more doors for Philippine businesses and entrepreneurs, with the potential to create a myriad of jobs for Filipinos. 

“The President’s vision of a digitally connected ASEAN where innovation thrives and opportunities abound is fully aligned with our own national efforts,” said Romualdez. 

“In the Philippines, we have already taken significant steps to accelerate digitalization through key initiatives such as the E-Government Act, the Public Service Act amendments, and various infrastructure programs aimed at expanding broadband access to remote areas,” he added.